Turkish steel producers were forced to cut rebar prices due to weak demand. Producers expecting the downward correction to be reflected on scrap prices continued to halt purchases while scrap suppliers are trying to stand firm. Although the latest bookings for HMS 1&2 80:20 were heard in the range of $410-419/ton, sales at $410/ton were rejected by sellers. However, some traders suggested that $413/ton levels are more realistic.
December 27, 2023 Spot rebar prices by region, as assessed by www.steelradar.com, are as follows;
Istanbul rebar prices at 21.300 TL (0.00) / 724,44 USD
Izmir rebar prices 20.750 TL (+50) / 705,74 USD
Karabuk rebar prices 21.400 TL (0.00) / 727,85 USD
Payas rebar prices 21.400 (0.00) / 727,85 USD
1 USD = 29,40 TL
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